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Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
 • Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against price volatility
• The indices will serve as a barometer of the coal market in India covering various grades of coal, representing the domestic coal sold through spot eAuction in India
Marking a significant development for the coal industry in India, mjunction services, India’s largest eCommerce company today launched the country’s first and only ‘coal spot price index’ which would serve as a barometer of the coal market in India and provide a reliable price benchmark across the coal industry. The index is aimed at empowering Indian coal consumers, enabling them to avert risks against market price volatility.
After months of in depth research and testing, a team specially formed for the purpose, finally developed four separate indices. While MJcomposite would serve as a barometer of the overall coal market in India, the other three industry-specific indices would serve the steel, cement and power sector respectively.
• MJcomposite: A value-weighted spot price index covering all the grades auctioned through eAuction, representing more than 70 per cent domestic coal sold through eAuction in India. The index constitutes 60 different varieties of coal from various coal producing companies in India (under MoC).
• MJsteel: A value-weighted spot price index exclusively showcasing the performance of Grade B coal (GCV = 5,800-6,400 Kcal/Kg). All the buyers/sellers of Grade B coal can use this index as a benchmark. Major consumers that will benefit from the index would be the steel and sponge iron sector, paper industry, etc.
• MJcement: A value-weighted spot price index exclusively showcasing the performance of Grade C coal (GCV = 5,400-5,800 Kcal/Kg). All the buyers/ sellers of Grade C coal can use this index as a benchmark. The index will serve as a very useful tool for coal consumers in the cement industry.
• MJpower: A value-weighted spot price index exclusively showcasing the performance of Grade E and F coal (GCV = 3,600-4,800 Kcal/ Kg). About 52 per cent of total coal offered through eAuction mode. The index will serve as a very useful tool for coal consumers in the power sector as well as CCP units.
The index will be a free service for all users of coaljunction (www.coaljunction.in) permitting them to view the index values and take informed decisions pertaining to their coal buys and sales.
Benefits of coal spot price index
• Understanding of the price movement (based on demand and supply) for Indian coal
• As a landed price benchmark for finalising the coal imports
• As a benchmark for secondary market transactions
• Can be used as a Final Settlement of Coal Futures Contract
• To implement risk management
• Buyers can hedge their risk using various financial products (index linked deals, SWAPS, other customised products) linked with the index
Speaking on the occasion, Viresh Oberoi, managing director, mjunction services said, “The coal spot price index is a service from coaljunction – a dedicated business unit of mjunction which deals with coal eSales. The coal industry in India, has relied till date on the international coal spot price indexes like Richards Bay Coal – API-3 from South Africa, Global Coal (RB and NC), Japan Power Utility Index, Australian New Castle Coal – API-3 and ACR Asian Index to name a few. With the advent of ‘MJcomposite, MJsteel, MJcement, MJpower’ the industry will now have a much more accurate and authentic coal price benchmark.”
Unveiling the coal spot price indices at a function held at Kolkata, AK Sarkar, director – marketing, Coal India, said, “The coal spot price index developed by mjunction is a very significant step in the development of price benchmark in the Indian coal sector. Unrestricted availability of information of the prices is a very important feature of any well functioning market. I hope, the coal spot price indices will eventually work as a benchmark when the coal derivative market takes root in India and buyers and sellers can hedge their risks through the use of coal derivatives.”
Mr Oberoi further added, “We are delighted that our expertise in the coal market will now benefit all the stakeholders of the coal industry. We are optimistic that our coal spot price index being the country’s first such index, will now reduce dependence of the coal producers, consumers and traders on the international price benchmarks while conducting coal business transactions. When the current domestic demand of coal is estimated at 660 million tonnes by 2009-10 with a further import potential of 100 million tonnes by 2012, our coal spot price indices are deemed to play a crucial role in managing coal trade in our country and overseas.”
The launch of the coal spot price index signifies mjunction’s focus on the use of technology and knowledge based services to empower its customers. It also demonstrates the deep insights and domain expertise that coaljunction has been able to develop over the years and then coming up with innovative services for the betterment and development of the coal industry as a whole.
Continuing to be a prime platform for knowledge gathering and exchange across diverse subjects ranging from coal, steel, non-ferrous metals, minerals, sourcing, logistics, mjunctionedge – the content and conference division of mjunction – is also organising the ‘3rd Indian Coal Markets Conference 2009’ scheduled on October 6-8, 2009 at New Delhi.
To be organised in association with ‘The McCloskey group’ it will cover all aspects of the coal supply chain beginning from exploration right up to consumption across various sectors. The conference is expected to see buyers, major coal producers’ analysts and key industry stakeholders from all over the world discuss their strategies on fulfilling the ever-increasing demand for coal, share insights on the coal imports, identify, network and promote future business prospects.
The conference thus promises to be an active discussion ground wherein key national and international speakers like Eoghan Cunningham – CEO, globalCoal, Dan H Chu – MD, mergers and acquisitions group, UBS Investment Bank, Bruce Hartshorn – senior VP of met-coke and export sales, Alpha Coal Sales, A Laxminarayana – VP, marketing and operations, eastern region, Coal & Oil, Jack Kellet – executive director, energy risk management, Mitsui, BK Chaturvedi – member, Planning Commission, Government of India, RV Shahi –chairman, Energy Infratech, A Sarkar – director marketing, Coal India, NC Jha – director technical, Coal India, TK Chatterjee – executive director, fuel management, NTPC, and many other dignitaries highlight the opportunities and issues faced by the coal market in India as well as globally.
Source: TATA
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Thursday, 09 July 09
COAL AND OIL GROUP TO INVEST $300 MN TO BUY SHIPS AND ACQUIRE COAL MINE
Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is pl ...
Thursday, 09 July 09
NO TRADE ON AUSTRALIA'S ASX COAL FUTURES DEBUT
*ASX's deliverable thermal coal futures debut without trade
*ASX says futures could present new arbitrage opportunities
The debut of Australia ...
Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the s ...
Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange ...
Tuesday, 07 July 09
RICHARDS BAY TERMINAL COAL EXPORTS ROSE 7.2% IN JUNE
Richards Bay Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments rose 7.2 percent in June from a year earlier.
Export ...
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- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Australian Coal Association
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
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